Celcius Logistics Secures Rs 250 Crore in Series B Funding

Celcius Logistics, a specialised third-party logistics company concentrating on cold chain solutions, has successfully raised Rs 250 crore (approximately $30 million) in its Series B funding round. This round was co-led by Eurazeo and Omnivore, alongside contributions from existing partner IvyCap Ventures.

With this latest funding, Celcius has cumulative investments of around Rs 390 crore. This total encompasses a Rs 40 crore pre-Series B round completed in May 2024, as well as earlier seed and Series A investments from entities such as Mumbai Angels, VCats, and Endiya Partners.

Investment Utilisation and Expansion Plans

The capital raised will facilitate Celcius in extending its operations to over 1,000 cities throughout India. Furthermore, it will be used to enhance technological platforms that oversee temperature-sensitive logistics, specifically for the food and pharmaceutical industries. Recently, the company has broadened its scope to include pharmaceutical logistics and aims to further consolidate this segment.

Overview of Celcius Logistics

Established in 2020, Celcius offers comprehensive cold chain logistics solutions through its innovative technology stack, which features a Transport Management System (TMS), Warehouse Management System (WMS), and Inventory Management System (IMS). This platform allows for seamless coordination among manufacturers, transporters, and warehouses.

The company, headquartered in Navi Mumbai, operates across more than 600 cities and maintains a fleet of over 4,000 vehicles, comprising 150 cold storage facilities and 250 hyperlocal delivery riders.

Clientele and Growth Metrics

Celcius Logistics counts renowned names among its clients, including Blinkit, Zepto, Zomato, Domino’s, Keventers, and Baskin Robbins. The company has reported substantial revenue growth of 2.5 times year-on-year since 2021. It is important to note that Celcius has not yet submitted its annual financial reports for FY24 and FY25.

Competitive Landscape

In the cold chain logistics market, Celcius faces competition from notable players such as Snowman Logistics, Coldrush Logistics, Stellar Value Chain, Tessol, and TCI Cold Chain Solutions.